Daily Archive: Wednesday, January 30, 2008

Valance Weekly Economic Reports: Global News Highlights

Same twin themes taking hold – weakness and inflation. Highlights: US Mixed data EU Softening data could change ECB’s inflation rhetoric JN CPI Higher on food, energy prices; Mixed data continues UK Housing Market Continued To Show Weakness AU Businesses Less Confident About Q1 economic outlook ♥ ...Read More

Saudi production up to 9.2 mbpd

Opec reported Saudi production was up to 9.2 million bpd. This means demand has increased at the current posted prices probably making further price hikes are more likely than not. Bloomberg should have updated production numbers around February 5 for confirmation. ♥ ...Read More


From Karim: GDP slows from 4.9% to 0.6% Personal consumption slows from 2.8% to 2.5% DGO strength in Dec shows up in modest positive in equipment and software (+3.8%) Residential FI (housing) down 23.9% Core PCE up 2.7% annualized for quarter and 2.1% y/y Net exports add 0.4% to gwth Inventories a ...Read More

2008-01-30 US Economic Releases

MBAVPRCH Index + 4 Wk Ave + 12 Wk Ave From Karim: very volatile series-see chart-white line is purchase index-purple line is 4wk avg and green line is 12wk avg-latter is probably best indicator of trend and looks like still heading lower. Of course this series also reflects multiple applications for same ...Read More

U.K. mortgage approvals drop to least since 1999

U.K. Mortgage Approvals Drop to Least Since 1999 By Jennifer Ryan (Bloomberg) U.K. mortgage approvals dropped in December to the lowest in at least nine years, and consumer credit fell, threatening the outlook for economic growth. Lenders granted 73,000 loans for house purchase, down from 81,000 in November and the least since ...Read More